Solar Panel Cost Guide in Hernando, MS (2024 Update)
- Hernando Solar Installation Cost: $19,157
- 25-Year Savings: $21,069
- Payback Period: 12.9 Years
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Average Cost of Solar Panels in Hernando
We go over average solar pricing in Hernando.
The national average cost of solar panels is $2.66 per watt, but in Hernando it’s 3 per watt.To cover the typical energy usage of the average home in Hernando, most homeowners require a 8.7-kilowatt system. Using the figure above, a solar installation costs about $19,157, or $27,395 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average energy use of Hernando homeowners. The price of a solar system for your home may look different depending on factors unique to you, like your household energy use and solar contractor.Many homeowners find going solar is a fruitful investment. The average homeowner in Hernando can save about $16,000 on their electricity bills over 20 years.
Click the button below to get connected to a reputable solar panel company in your area for a custom estimate.
Solar savings over time in Hernando
| Year | Return on Investment |
|---|---|
| 1 years | $-17,790 |
| 3 years | $-15,055 |
| 5 years | $-12,320 |
| 7 years | $-9,585 |
| 9 years | $-6,850 |
| 11 years | $-4,115 |
| 13 years | $-1,381 |
| 15 years | $1,354 |
| 17 years | $4,089 |
| 19 years | $6,824 |
| 21 years | $9,559 |
| 23 years | $12,294 |
| 25 years | $15,029 |
Top Solar Installers in Hernando
Many homeowners decide to hire a solar installation company since trying to install solar panels yourself can be hard. In addition, if you’d like to maximize your investment in solar energy, opting for a solar installer can help with that too. Different providers can offer repairs, expertise on installation and sometimes even information on local incentives and net metering programs.
If you're searching for a solar company in Hernando, the EcoWatch team has compiled a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Hernando
Factors that Affect Solar Panel Costs in Hernando
Although the average cost of a solar system in Hernando is $19,157, your actual cost may differ. There are many factors that can have a sizable impact on the cost of a solar panel installation. Below are some of the more crucial things to keep in mind.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of going solar is the size of the solar system, which is measured in kilowatts (kW). The more power your household consumes, the larger your system will likely need to be. You can expect to spend about $3,140 per kilowatt in Hernando.The brand of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that have higher efficiency, like monocrystalline panels, tend to cost more. Furthermore, solar equipment is more than just the solar panels themselves. You’ll also need to think about the kind of racks used to mount the panels, inverters, solar batteries, etc. It’s important to take all of this into consideration when looking for a solar system that’s in your budget.
Solar Financing Terms
Most solar companies in Hernando offer solar loans, which reduce the initial cost of installing a solar system.When figuring out your overall cost, you should also calculate the interest you’ll pay if you decide on a solar loan. Also, paying more on your down payment can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you hire to handle your switch to clean energy can play a part in your total costs. There are about 3 solar installation companies in Hernando, and each can charge different amounts for labor and equipment.Additionally, some companies in Hernando have more knowledge about local solar incentives and can help you learn about additional rebates or tax exemptions. Though, they may charge more for walking you through the whole process. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.27 | $13,716 | $11,877 | 13.4 years |
| 8 kW | $3.20 | $17,936 | $16,187 | 13.1 years |
| 10 kW | $3.14 | $21,980 | $20,673 | 12.9 years |
| 12 kW | $3.08 | $25,848 | $25,336 | 12.6 years |
| 14 kW | $3.01 | $29,541 | $30,174 | 12.4 years |
| 16 kW | $2.95 | $33,058 | $35,188 | 12.1 years |
| 18 kW | $2.89 | $36,399 | $40,377 | 11.9 years |
| 20 kW | $2.83 | $39,564 | $45,743 | 11.6 years |
How to Save on Solar Panels
There are a lot of solar installers to choose from, all of which offer different warranties, solar panel models and price points. To help you decide on the right company for you, here are some tips to keep in mind:
- Warranty: An all-inclusive, long-term warranty can help keep your solar panels running smoothly and save you money on part replacement and repairs.
- Contract: When looking through your solar installer’s contract, ask for clarification about any terms you’re not sure of and make sure you understand what happens in scenarios like a system part breaking or if the company goes out of business.
- Solar Panel Brands: Each solar panel brand and type has varying levels of quality, durability and energy efficiency. They will come at different prices as well. The company you choose affects which solar panel brands you have access to.
- Reputation: Solar installers that have great reviews from their customers and that have been in business for many years likely provide good-quality solar panel installation and expertise.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Hernando, MS Solar Cost FAQs
What is the average cost of installing solar panels in Hernando?
The average cost of solar panels in Hernando is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on things such as the kind of solar panels you want, what size system you need and how much energy you use.
Can you get solar panels for free in Hernando?
You can’t get solar panels for free in Hernando. However, you may still be able to get them on a lower budget. You can lease solar panels for a low upfront cost or, if you’d rather own your solar panels, you can finance them with a solar loan.
Do solar panels increase how much your home is worth?
Solar panels can increase the value of your home remarkably as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% after installing a solar system."
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.